It can be easy for us salespeople to often get stuck on talking too much about our products and services instead of talking about their value. And if we do remember to talk about benefits, we usually just talk about the first level of benefits which are the ones that are most obvious and visible to us.
The problem with this is that there are actually 3 levels of benefits and it is talking about levels 2 and 3 where you really begin to build interest.
We try to break benefits into these 3 levels or categories of value:
- Level 1 – Technical Value: These are the functional improvements that you help to make
- Level 2 – Business Value: These are the financial improvements that you help to make
- Level 3 – Personal Value: These are the emotional improvements that you help to make
I was listening to the radio and heard a commercial for LASIK eye surgery and thought to myself that this was a great example of how to break down the value into the three levels and how pushing to those higher levels is where the motivation to move forward begins.
Let’s break down the 3 levels of value for this product.
Level 1 – Technical Value
The lowest level of benefits that LASIK eye surgery provides is that it allows someone to be able to see without needing to wear glasses or contacts. You are basically improving this functional process – someone needs to see and is currently required to use a corrective lens of some sort. The surgery creates functional improvement so that this corrective lens is not needed.
The technical that we just identified creates other functional improvements like saving time and hassle from having to put on and take off contacts on a daily basis.
Level 2 – Business Value
Those technical improvements are pretty important, but as with the products that you try to sell, there is a cost with this purchase. The cost for LASIK is in the four-figure price range.
Notice here that if you only stop selling the technical improvements, it might not be enough to justify the price tag. This is a great example of why you need to take your benefits to the next level and include business benefits to build a stronger business case and ROI.
And for LASIK, there are all sorts of financial improvements. If you currently wear contact lenses, there is a hard-dollar cost every month for lenses and contact solutions. This hard-dollar cost goes completely away with LASIK. Yes, there is a cost with LASIK but these hard dollar savings helps to pay for that investment and then deliver a positive return after the breakeven point.
The hard-dollar monthly cost savings are an example of the business value offered by this service.
Level 3 – Personal Value
You might be able to sell this service based on those 2 levels of benefits. But it does not stop there as value continues on to go into the personal and emotional area. If you really want to perform at the highest level and have breakthrough results, it is bringing this third level of benefits into the picture that will separate you from the rest.
For LASIK, there are personal value benefits offered in how happy it makes the customer feel. After this surgery, you never have to worry about putting on glasses or contacts. Think about how much happier and more comfortable this will make you feel…everyday…. for the rest of your life.
As you can see, every time you move up a level in terms of value, you begin to build more interest and take one step closer to closing the deal. Don’t fall into the trap of staying only at level 1. Push yourself to get clarity on what your level 2 and 3 benefits are and bring those into prospecting discussions.
We hope this gives you some ideas for how to create your value!